MARKETING MECHANISMS IN GM GRAINS AND OILSEEDS

Brett J. Maxwell, William Wilson and Bruce L. Dahl

No 23639, Agribusiness & Applied Economics Report from North Dakota State University, Department of Agribusiness and Applied Economics

Abstract: A number of challenges exist for genetically modified (GM) crop development at the production level. Contract strategies can resolve these challenges. Contracts can be designed to induce legal adoption of GM wheat by varying technology fees, violation detection, and penalties. The primary objective of this research is to analyze contracting strategies to determine terms to minimize technology agreement violation and to induce legal adoption of GM wheat. A simulation model of a crop budget for Hard Red Spring wheat was developed. Results illustrate that contracts can be designed to induce desired behavior. Technology fee, probability of detection, and the level of non-GM premium were the most notable factors influencing adoption decisions.

Keywords: Crop; Production/Industries (search for similar items in EconPapers)
Pages: 30
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nddaae:23639

DOI: 10.22004/ag.econ.23639

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